NEW YORK - Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Masco Corporation ("Masco" or the "Company") (NYSE: MAS). The investigation focuses on whether certain officers and directors of Masco violated shareholder protection laws by paying executives excessive compensation.
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Masco's CEO earned a total of $10.058 million in 2010, its CFO $2.45 million, and its COO $4.847 million. These figures represent large increases from the same executive officers' 2008 compensation, even though, Masco's 12 months total revenue declined from $11.413 billion in 2007 to $7.592 billion in 2010. Moreover, the Company's net income of $386 million for 2007 fell to a net loss of $1,043 million in 2010. Not surprisingly, Masco's shareholders expressed their displeasure with the executive compensation packages by voting "no" on Masco Corporation's say on pay provision, yet the Masco Board of Directors ignored both Masco's shareholders and the Company's past performance and approved the executive compensation referenced above.
Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
If you are a current Masco shareholder, and you would like to discuss your legal rights, visit www.faruqilaw.com/MAS. You can also contact us by calling Beth A. Keller toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
Source: Faruqi & Faruqi, LLP
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